Senior Manager, Strategic Sourcing
At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here.
Incredible teams doing exceptional work, every day
Procurement is responsible for managing the risks associated with conducting business with third-party vendors and defining a consistent program for First Republic’s vendor partner relationships. In the process, we fulfill the applicable legal, information security, regulatory, and commercial term requirements on behalf of the organization. We also work with business units to secure; risk assess and oversee all vendor partner services.
Duties and Responsibilities
The Sr. Manager, Strategic Sourcing - Technology, will lead the end-to-end sourcing activities of First Republic’s Technology (hardware and software) infrastructure. This includes all areas of Technology, including Hardware, Software and SaaS, Network and Telecom, InfoSec, and Tech Operations. The candidate will conduct cost/data analysis, market research, negotiation strategy development, executing sourcing events, proposal analysis, vendor license/service scope reviews, and collaborate with internal stakeholders, and the Procurement department.
The candidate will coordinate, support, and partner with Vendor Management team through the sourcing process, as well as in the execution of contracts, to ensure business requirements and negotiated terms are finalized in the contracting and on-boarding processes. Supports the Business and Vendor Management in the on-going review of Vendor performance as part of managing the technology category for the Bank.
What you’ll do as a Sr. Strategic Sourcing Manager:
- The Sr. Strategic Sourcing Manager reports to the Director of Strategic Sourcing.
- Collaborate with business partners to align sourcing priorities, source selection, conduct market research, mitigate issues and value add insights.
- Build and maintain relationships with business units, team members, management, key stakeholders, and vendors.
- Collaboratively work with assigned business clients and other stakeholders’ groups to achieve objectives and ensure alignment with the bank’s strategy and business operations.
- Consult with business unit partners to provide sourcing strategies advice to maximize favorable results and support client strategy and goals.
- Ability to develop the overall strategy for a product category and research new products to drive TCO savings and achieve key targets.
- Provide category insight by analyzing market data and monitoring relevant market conditions.
- Analyze business unit requirements for leveraging opportunities, vendor recommendations and acquisition planning.
- Collaboratively work with cross functional teams to develop business unit requirements and Statement of Works (SOWs).
- Manage competitive RFx process that is consistent with standardized language, evaluation criteria, and incorporated with the Strategic Sourcing process of preparation, issuance, and management of RFx (RFI, RFQ and RFP).
- Lead source selection activities of pre-qualified vendors, including conducting market analysis to determine potential sources.
- Negotiate Contracts that meet desirable financial terms and conditions.
- Administer Non-disclosure agreements and assist in risk assessment, vendor due diligence in collaboration with Vendor Management team.
- Support Contract Management in negotiating MSAs and other key agreements.
- Support Vendor Management in periodic vendor performance reviews.
You could be a great fit if you have:
- Bachelor’s degree in Business, Sourcing, or related field. Juris Doctorate or MBA degree preferred
- 7+ years of supplier negotiation experience with an emphasis on technology related commercial deal structuring
- Significant experience in strategic sourcing, technology category management and procurement.
- Significant experience in managing a formalized process of selecting, monitoring, and evaluating vendors and vendor contracts.
- Strong ability in negotiation and managing service level agreements.
- Advanced skill exercising initiative and using good judgement to make sound decisions.
- Ability in resolving conflicting requests and meeting changing requirements while managing multiple priorities independently and/or in team environment
- Highly skilled at communicating complex processes to senior leadership, strong presentation skills.
- Strong data analytics and data interpretation skills.
- Experienced in change management and organizational transformation.
- Must be able to review and analyze data reports and manuals; must be computer proficient.
- Must be able to communicate effectively via telephone and in person.
- Must be able to travel as position requires.
Own your work and your career - apply now
Are you willing to take initiative and make decisions? Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.
We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment, and stability—that’s the First Republic way. Come join us!
This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.
First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.